Kroger Company (The) (KR) Releases FY18 Earnings Guidance
Kroger Company (The) (NYSE:KR) updated its FY18 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $2.00-2.05 for the period, compared to the Thomson Reuters consensus estimate of $1.98.
KR has been the topic of several research reports. UBS AG reaffirmed a neutral rating and issued a $27.00 price objective (down from $32.00) on shares of Kroger Company (The) in a research report on Friday, June 16th. BidaskClub raised shares of Kroger Company (The) from a hold rating to a buy rating in a research report on Wednesday, August 9th. Stephens initiated coverage on shares of Kroger Company (The) in a research report on Friday, August 11th. They issued an underweight rating and a $20.00 price objective on the stock. BMO Capital Markets set a $32.00 price objective on shares of Kroger Company (The) and gave the company a hold rating in a research report on Saturday, June 10th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Kroger Company (The) from a buy rating to a neutral rating and cut their price objective for the company from $33.00 to $26.00 in a research report on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $29.91.
Kroger Company (NYSE:KR) opened at 22.77 on Friday. Kroger Company has a 52 week low of $20.46 and a 52 week high of $36.44. The firm has a market cap of $20.43 billion, a price-to-earnings ratio of 13.71 and a beta of 0.79. The company has a 50-day moving average of $23.18 and a 200-day moving average of $26.95. Kroger Company (The) also saw some unusual options trading activity on Thursday. Stock traders acquired 31,730 put options on the company. This is an increase of 607% compared to the typical daily volume of 4,485 put options.
Kroger Company (The) (NYSE:KR) last released its quarterly earnings results on Friday, September 8th. The company reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $27.60 billion for the quarter, compared to analyst estimates of $27.48 billion. Kroger Company (The) had a net margin of 1.35% and a return on equity of 29.10%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. Equities research analysts forecast that Kroger Company will post $1.98 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were given a $0.125 dividend. This is a positive change from Kroger Company (The)’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.50 annualized dividend and a yield of 2.20%. Kroger Company (The)’s payout ratio is currently 30.12%.
Kroger Company (The) announced that its Board of Directors has approved a stock repurchase program on Thursday, June 22nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other Kroger Company (The) news, Director Susan M. Phillips sold 6,200 shares of Kroger Company (The) stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $21.17, for a total value of $131,254.00. Following the sale, the director now owns 124,105 shares of the company’s stock, valued at $2,627,302.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider J Michael Schlotman acquired 2,000 shares of the stock in a transaction on Monday, June 26th. The stock was bought at an average cost of $22.73 per share, for a total transaction of $45,460.00. The disclosure for this purchase can be found here. Insiders own 0.85% of the company’s stock.
Kroger Company (The) Company Profile
The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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